Possible To Re Negotiate Auto Loan

[zerocon]

When purchasing my car, I was told that it was actually possible to re-negotiate a car loan. (As my credit improves and the economy changes etc)

I am just curious if this is actually possible?, and if so how you would go about it? As well, any tips in getting the best rate possible?

[The Cosworth]

I think as long as your current loan can be paid out without penalties you can get another loan with the different rate/term, use that money to pay off the first loan, and start paying on the second.

[benyl]

How old is your car? Banks give favorable rates if our car is less than a year old. Anything over that, and you get bent.

[adam c]

yes you can re-negotiate it, but it will cost you, usually not worth it

[jonnycat]

Compare your rates with what another lender will offer you. If they'll take you based on credit, sign their contrcts. It's that simple.